Economic Review and Outlook at ASTA Expo

The American Seed Trade Association (ASTA) annual Corn & Sorghum and Soybean Seed Research Conference (CSS) and Seed Expo this week boasted a record 2,800 attendees and 150 exhibitors who were all excited about the future of the seed industry despite this year’s calamitous drought.

During the general session on Thursday, AgResource Company president Dan Basse looked at the year in review and gave his outlook for the future. As far as this year’s drought is concerned, Basse said the final analysis was better than expected. “We were just shocked at how the corn and soybean crops held together as well as they did,” he said. For example, we had record low pod counts as a result of the drought, however the pod weights were two standard deviations above the record. “US soybean yields ended up being 3.5 to 4 bushels an acre MORE than we expected and that’s largely due to the technology now being bred into seed,” said Basse.

Basse is concerned about what next year’s weather patterns may bring, especially in light of the fact that drought impacted Russia, Australia and portions of Latin America this year. He also commented on the lack of a five year farm bill and noted that the crop insurance policy that was part of the last farm bill really helped save farm income this year.

2015 AFBF convention

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